Which of the following is an example of an operating activity?
A) Obtaining capital from owners
B) Selling goods and services to customers
C) Purchasing equipment
D) Selling land
B
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What legal concept states officers cannot unreasonably benefit from the organization’s funds?
A. obedience B. private inurement C. conflict of interest D. intermediate sanctions
One of the most commonly used background checks is the ______ check.
A. criminal background B. reference C. web D. credit
When comparing the allowance method of accounting for bad debts with the direct write-off method, which of the following is true?
a. The direct write-off method is exact and also better illustrates the matching principle. b. The allowance method is less exact but it better illustrates the matching principle. c. The direct write-off method is theoretically superior. d. The direct write-off method requires two separate entries to write off an uncollectible account.
What defines an insular, inwardly focused culture?
A. The firm values their customers' opinions and fully understands their needs and expectations. B. The firm's unflinching belief in the company's superiority breeds a champion's attitude and thus they thrive on doing better by adapting to fresh thinking from outside the company. C. The firm never underestimates rivals because of their proven track record in defending challenges. D. The firm has a commitment to hiring young people who can offer fresh thinking and new perspectives. E. The firm believes they have all the answers because of their past great market success and is thus overconfident.